While the Class A shares have little voting power, they indicate the company values itself at about $8 billion -a bit less than the $10 billion level it touted in private funding efforts almost four years ago. Also, Salesforce Ventures has invested in Dropbox since 2014. First Data Corp. went public at a market value of about $14 billion in 2015 - the biggest such IPO in the past five years. After the IPO only 2 percent of voting rights will be publicly traded as Class A shares, leaving existing shareholders still in control of the company.

"Dropbox will also add support for Quip documents, allowing joint users to work on Quip files that live in Dropbox, furthering Dropbox's effort to build a unified home for work", the companies said.

If all the stock is sold at the higher suggested price, the sale will be the third-highest IPO from an enterprise technology company in the past three years.

The company's net loss narrowed to US$111.7 million in 2017 from US$210.2 million in 2016. The company also announced a $100 million private placement by Salesforce Ventures.

The company had 11 million paying users and over 500 million registered users on December 31, 2017-just over 2% of its registered users pay Dropbox for the service. A meeting in NY is scheduled for Monday and in Boston later this week. The company plans to list on Nasdaq Global Select Market under the symbol DBX.

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